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The Nigerian naira extended its depreciation against the US dollar astatine the authoritative overseas speech marketplace connected Thursday.
Data from the Central Bank of Nigeria, CBN, showed that the naira dipped further to N1,366.73 per dollar connected Thursday, from N1,366.71 recorded connected Wednesday.
This means the naira weakened somewhat by N0.02 against the dollar connected a day-to-day ground astatine the authoritative market.
Similarly, astatine the achromatic market, the naira depreciated by N3 to N1,418 per dollar connected Thursday, from N1,415 traded connected Wednesday.
The improvement comes arsenic the country’s overseas reserves dropped to $51.92 cardinal connected July 29, 2026, from $51.94 cardinal recorded the erstwhile day, according to information from the apex bank.
Recall that successful the past 3 days, the naira has recorded consecutive declines against the dollar astatine the authoritative overseas speech market.
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